For partnership taxation, the format matters less than consistent practice with examples. Whatever resource you choose, make sure to work through all the examples. I learned best by creating my own "case studies" and tracking basis through multiple years of contributions, operations, and distributions. One approach I found helpful was to start with a simple partnership with two equal partners, then work my way up to more complex scenarios - adding debt, special allocations, etc. Seeing how each new element affects the calculations helped me build a mental framework.

As someone who's been working with partnership taxation for about 15 years, I'd echo the book recommendations already mentioned - especially "The Logic of Subchapter K" as a starting point. But I wanted to add that the IRS's own "Advanced Issues in Partnership Taxation" course materials are actually quite good once you have the fundamentals down. They're available through the IRS website under their continuing education section. One thing I wish someone had told me early on: don't try to memorize all the rules at once. Partnership taxation is incredibly complex, and even experienced practitioners regularly reference materials. Focus on understanding the conceptual framework first - why partnerships are treated as pass-through entities, how basis protects partners from double taxation, and how allocations work in theory. The mechanical calculations become much easier once you grasp these underlying concepts. Also, consider joining the ABA Tax Section or your state's tax section - they often have partnership tax committees that publish practical guides and host webinars specifically for practitioners dealing with these issues.

Has anyone successfully amended a return after the 3-year mark specifically for EIC issues? Did you face penalties?

I went through almost the exact same situation last year with my 2017 return. The key thing to understand is that the IRS has sophisticated matching systems that will absolutely catch the conflict when your ex files their return claiming the same child. Here's what I learned: You're correct that the 3-year deadline is mainly for getting refunds back, not for correcting errors. The IRS can assess additional tax on EIC issues for up to 6 years, and in some cases longer. I'd strongly recommend filing that 2018 amendment even though you won't get a refund. When I did mine, I included a detailed explanation letter with my divorce decree attached, clearly stating which credits I was entitled to versus which ones I wasn't. The IRS processed it without issues and actually sent me a letter acknowledging my voluntary compliance. The fact that your ex never filed their 2018 return actually works in your favor - it shows the IRS that you were the one trying to comply with tax obligations while they were ignoring theirs. When they finally do file, your proactive amendment will be on record showing good faith. One tip: keep detailed records of everything related to your child's custody and living arrangements for 2018. If the IRS does audit, they'll want proof of who was actually entitled to what.

Has anyone noticed that TurboTax's handling of mortgage interest deductions has gotten way worse in the last couple years? I remember it being much more straightforward before the tax law changes. Now it seems like they've overcomplicated everything with too many questions and confusing language.

I've been dealing with mortgage interest deduction issues in TurboTax for years, and here's what usually fixes the problem when entering multiple properties: Make sure you're being very specific about the property types and dates in each section. TurboTax gets confused when it thinks you might have had two primary residences at the same time. For your situation, when you enter the first mortgage (2017 house), make sure to specify the exact date you sold it. When you enter the second mortgage (June 2021 house), make sure it's clearly marked as your primary residence starting from the purchase date. The key is in those follow-up questions after entering the 1098 data - TurboTax asks things like "Is this your main home?" and "Did you use this property as your primary residence for the entire year?" Since you sold one and bought another mid-year, you need to answer those questions very carefully for each property. If TurboTax thinks there's any overlap or confusion about which was your primary residence when, it can zero out all the deductions as a safety measure. Try going through each property's questions one more time and pay close attention to the residence type and date range questions.

Make sure you set aside money for state taxes too! Federal underpayment penalties are bad, but some states are even worse. I'm in California and learned this the hard way last year.

I was in almost the exact same situation two years ago with a consulting gig. Here's what I learned that might help you: First, don't panic - the underpayment penalty isn't as scary as it sounds. It's calculated quarterly and the current rate is around 8% annually, so you're looking at roughly 2% per quarter on the amount you should have paid. Since you mentioned making $7,800/month, you're probably looking at owing around $25,000-30,000 in federal taxes (rough estimate). The penalty would be calculated on what you should have paid each quarter vs. what you actually paid (zero). Here's what you can do RIGHT NOW to minimize damage: 1. Make a large estimated payment by January 15th for Q4 2024 2. Calculate 25-30% of your total earnings and set that aside immediately 3. Look into business deductions - home office, equipment, internet, phone, etc. The key is that January payment. Even though you missed the first three quarters, paying a substantial amount for Q4 will reduce your overall penalty significantly. I ended up paying about $400 in penalties on a $28k tax bill, which was much less than I feared. Also consider opening a SEP-IRA before year-end - you can contribute up to 25% of your net self-employment income, which will reduce your taxable income substantially.

Has anyone here actually moved states for tax reasons? Did it work out the way you expected? i've been thinking about leaving California for years but worried i'll save on income tax but end up paying more for other stuff.

I moved from New York to Texas two years ago specifically for tax reasons and it's been mostly positive! Saved around $18k annually on state income taxes, but @Isaac Wright is absolutely right about property taxes - they're brutal here. My property taxes in suburban Dallas are about $12k/year on a $400k home, compared to $8k I was paying in upstate NY on a similar value house. The hidden costs that caught me off guard were vehicle registration (much higher in Texas) and the lack of state tax deductions I was used to claiming in NY. But even factoring in all the additional expenses, I'm still coming out about $10k ahead annually. One thing I'd recommend is actually living in your target state for a few months before making the permanent move if possible. The tax savings look great on paper, but quality of life factors like cost of healthcare, utilities, and general living expenses can vary dramatically and impact your overall financial picture.